XChange TEC.INC. Sponsored ADR (NASDAQ:XHG) Sees Large Drop in Short Interest

XChange TEC.INC. Sponsored ADR (NASDAQ:XHG) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 8,449 shares, a decline of 55.3% from the June 30th total of 18,921 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 5,824 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of XChange TEC.INC. in a research report on Friday, May 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

XChange TEC.INC. Price Performance

Shares of NASDAQ XHG traded up $0.00 during mid-day trading on Wednesday, hitting $0.97. 390 shares of the company were exchanged, compared to its average volume of 25,957. The stock has a 50 day simple moving average of $0.96 and a 200-day simple moving average of $0.94. XChange TEC.INC. has a 1-year low of $0.65 and a 1-year high of $2.23.

About XChange TEC.INC.

XChange TEC.INC engages in the professional insurance agency business in the People’s Republic of China. The company provides a various insurance products underwritten by insurance companies, including state-owned property and casualty insurance companies, as well as various regional property and casualty insurance companies. It also offers automobile, life, health, group accident, and other property related insurances primarily to individual end consumers. In addition, the company operates a SaaS platform to offer comprehensive services to online customers.